CBSE Questions for Class 12 Commerce Accountancy Cash Flow Statement Quiz 3 - MCQExams.com

Which of these a/c appearing in trial balance is not transferred to Income statement?
  • Salary a/c
  • Purchase a/c
  • Accumulated depreciation a/c
  • Bad debts a/c
From the following estimate total sales :
Cash sales Rs. 20,000, Cash collection from debtors Rs. 130,000, bad debts during the year 15,000, Cash discount to debtors Rs.Debtors as on 1.1.2014 Rs. 25,000 Debtors as on 31.12.2014 Rs. 55,000
  • Rs. 150,000
  • Rs. 180,000
  • Rs. 200,000
  • Rs. 190,000
XYA Ltd. purchased a plant of Rs. 60,000 from PQR Ltd. The company paid Rs. 15000 in cash and agreed to allottee sufficient number of equity shares of Rs. 10 each at a discount of 10%. Find the number of shares to be allotted to PQR Ltd.
  • 40,000
  • 45,000
  • 5000
  • 4500
Choose the true statement..........
  • Income and gain A/cs shows increase in credit side
  • Expenses and losses A/cs shows reduction in balance on debit side
  • Assets A/c can have credit balance also
  • Debtors are the owing of the business
Which of the following inventory method assumed that cost should be charged against revenue in the order in which they were incurred........
  • LIFO
  • FIFO
  • Standard Cost
  • Base stock method
Income and expenditure a/s is prepared by which of these types of concerns.
  • Manufacturing concerns
  • Multinational companies
  • Private limited companies
  • Non-trading concerns like club, hospitals, schools etc.
Income or expenses which arises in the current period as a result of errors or omission in the preparation of financial statement of one or more prior period are known as.
  • prior-period items
  • extraordinary items
  • abnormal items
  • non-ordinary items
From which of these statements/documents one would know the cash generating activities of a company.
  • Cash flow statement
  • Profit and loss appropriation a/c
  • Profit and loss a/c
  • Balance sheet
A purchased a machinery amounting to Rs.15,00,000 on 1st April,On 31st March, 2006, the similar machinery could be purchased for Rs. 25,00,The present discounted value of the future net cash inflows of that machinery was calculated as Rs. 13,00,000.
On the basis of above the present value of machinery is  ____________.
  • Rs. 10,00,000
  • Rs. 25,00,000
  • Rs. 15,00,000
  • Rs. 13,00,000
Net profit during the year Rs $$75,000$$ Credit purchases Rs$$3,50,000$$ creditors in the beginning Rs$$1,20,000$$ creditors at the end $$Rs1,50,000$$.
Calculate cash from operation?
  • $$4,25,000$$
  • $$1,95,000$$
  • $$1,05,000$$
  • $$2,25,000$$
Net profit during the year $$Rs3,00,000$$ Debtors in the beginning Rs$$75,000$$ Debtors at the end Rs$$80,000$$ Calculate cash from operations?
  • $$2,95,000$$
  • $$3,05,000$$
  • $$3,75,000$$
  • $$3,80,000$$
Decrease in the amount of creditors results in a ________.
  • increase in cash
  • decrease in cash
  • increase in liabilities
  • no change in assets
Cash flow statement includes _______________.
  • Cash receipts only
  • Cash payments only
  • both (A) and (B)
  • None of these
Which of the following document is not a part of annual report and accounts of a public limited corporate body.
  • Projected cash flow statement
  • Statutory Auditors reports
  • Balance sheet
  • Income statement
Cash from operation is equal to _____________.
  • Net profit plus increase in outstanding expenses
  • Net profit minus increase in outstanding expenses
  • Net profit is equal to outstanding expenses
  • None of these
Income received in advance is a.............
  • Personal a/c
  • Nominal a/c
  • Real a/c
  • Dummy a/c
Which of these expenses does not result in cash out flow ___________.
  • Income-tax
  • Dividend
  • Writing off goodwill
  • Interest on loans
Accrued liability stands for ..
  • Income unearned
  • Unrealized income
  • Unpaid expenses
  • Sundry expenses
_______ shows the success or failure of a business. select the most Appropriate.
  • Cash flow statement appropriate answer
  • Retained earning statement
  • Income statement
  • Balance sheet
As per accounting standard $$AS-3$$, the cash flow statement is prepared with cash inflow/outflow from __________.
  • Operating activities
  • Investing activities
  • Financing activities
  • All of the above
Net profit during the year Rs$$5,00,000$$
Depreciation in the beginning Rs$$1,50,000$$
Depreciation at the end Rs$$2,50,000$$
What is the amount of funds from operation?
  • Rs$$5,00,000$$
  • Rs$$6,00,000$$
  • Rs$$4,00,000$$
  • Rs$$1,00,000$$
Cash received from debtors _______________.
  • Sources of funds
  • Sources of cash
  • Application of funds
  • No flow of fund
Provision for taxation is a part of _______________.
  • Operating activities
  • Investing activities
  • Financing activities
  • None of these
Purchase of building by issue of debentures is a/an _____________.
  • Operating activities
  • Investing activities
  • Financing activities
  • Ignored in cash-flow statement
Which of the following is not added to net profit while computing the amount of funds from operation?
  • Depreciation of machinery
  • Profit on sale of machinery
  • Good will written off
  • Loss on sale of furniture
Depreciation is_______________.
  • A Cash Expenditure like other normal expenses
  • A Cash operating Expenses
  • A non-cash Non -operating Expenses
  • A Non-cash Operating Expenses
Cash from operating activities include ________________.
  • Cash from business activities
  • Sale of fixed assets
  • Borrowing from outside sources
  • Cash from business activities and changes in current assets and liabilities
A companys reported current profit Rs 70,000 after incorporating the following
Loss on sales of investment Rs 10,000.
Premium on redemption of debentures Rs 1,500.
Depreciation on Machinery and Plant Rs 20,000.
Goodwill and Preliminary Expenses written off Rs 30,000;
Gain from sale of Non-Current Assets Rs 40,000.
The net inflow of funds from the operation would be
  • Rs. 91,500
  • Rs. 80,000
  • Rs. 70,000
  • Rs.59,500
Cash and Cash Equivalent includes _____________________.
  • Cash on hand and bank balance.
  • Marketable Securities.
  • Short-term investments.
  • All of the above.
  • Both Assertion and Reason are true and Reason is the correct explanation of Assertion
  • Both Assertion and Reason are true and Reason is not the correct explanation of Assertion
  • Assertion is true but Reason is false
  • Assertion is false but Reason is true
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